Caliber Mining and Logistics Ltd, a provider of end-to-end coal mining and logistics solutions, is launching its initial public offering (IPO) worth ₹450 crore. The issue comprises a fresh issue of ₹400 crore and an Offer for Sale (OFS) of ₹50 crore. Post-issue, the company is expected to have a market capitalisation of approximately ₹2,772 crore.
The company offers services including overburden removal, coal extraction, loading and unloading, road transport, and rail logistics coordination. It operates mining and overburden removal projects in Maharashtra, Madhya Pradesh, and Chhattisgarh. Its main clients are subsidiaries of Coal India Ltd, particularly Western Coalfields Ltd and Northern Coalfields Ltd.
The company plans to use around ₹208 crore from the fresh issue proceeds to repay debt. This is expected to lower finance costs and improve profitability. The remaining funds will be used to buy commercial vehicles, mining equipment, and machinery, strengthening its operational capacity for future growth.
At the upper price band, the IPO is valued at 14.5 times FY26 earnings and 7.7 times FY26 enterprise value to EBITDA. Analysts consider this reasonable compared to listed peers, given the company's strong order book, good track record, and long-term growth prospects. They recommend subscribing to the IPO for long-term investment.